NEW YORK, NY — The Progressive Caucus of the New York City Council commends today’s passage of the living wage legislation, and stands firm in our support for the prevailing wage recently approved by the Council. As a Caucus that prioritizes just economic policy, we believe that corporate subsidies paid for by the people’s purse should serve the public good.

The prevailing and living wage legislation is vital for those impacted, yet we understand that thousands of working New Yorkers are still in need of relief. We will continue to advocate for even stronger wage standards, and look forward to the day that all corporations who benefit from New York City subsidies are required to pay a fair wage to their workers.

Mayor Bloomberg, who has promised to veto any legislation requiring wage standards, claims that using public funds as a tool to incentivize corporate investment expands economic opportunity for us all. We believe that without mechanisms to ensure that public funds are subsidizing jobs that provide a decent standard of living, the administration’s stance will only reinforce the cycle of poverty and growing income inequality our city faces.

The Progressive Caucus stands in support of the Council’s efforts to hold corporations accountable, and looks forward to continuing the fight for fair wages for all New Yorkers.